NAU: The Senior LoanMany of us have been waiting for the syndication of the Senior Loans to be announced.
On the "Commodity days" at Stockholm Corporate Finance, we had an explanation for why it is delayed. In this presentation Eva Kaijser, CFO Northland Resources, says that funding through the lead banks is delayed because the logistics solution was not solved. In August Northland Resources announced that the company has signed a letter of intent with three logistic specialist companies to manage and develop the logistics solution between the Kaunisvaara mines and the port of Narvik.
The intention is to get the logistics solution included in the syndication of the Senior Loans and therefore the time schedule has been delayed.
They also said:
"We have all confidence in that the syndication will be finalized and will inform the market of the outcome as soon as possible."